Global markets have been rattled by fears about the rapidly spreading delta variant of

Covid-19, but another threat also looms. Can the economic recovery survive the end of

emergency stimulus?

You're listening to Money Talks from the Economist, our weekly podcast on the markets, the economy

and the world of business. I'm Simon Long, and also coming up on today's show, why the

fracking tycoons of West Texas have changed their tune.

The motto has changed really from frack everything, almost to keep it in the ground, that

motto of climate change activists. And we meet the Bitcoin miners deep in rural China who are

packing up and shipping out. Miners were ordered to clear out computers and demolish buildings.

But first, financial markets have steadied somewhat after registering their sharpest sell-offs

in months early this week. The rapid spread of the delta variant has sparked fears about the future

of the global economic recovery. This time last year, rich country governments used every weapon

in their arsenal and some new ones to shore up economies.

We'll sign the single biggest economic relief package in American history and I must say

or any other package, by the way.

For the first time in our history, the government is going to step in and help to pay people's wages.

Deutschland wirkt das, was notwendig, ist tun, um seiner Wirtschaft zu helfen.

Whatever your situation may be, we're in your corner.

But most of these extraordinary stimulus measures are about to expire.

So has the damage from Covid-19 been avoided or merely deferred?

Well, it's a picture of confusion.

Kalem Williams is the economist senior economics writer.

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